5,300 Shares in Alamo Group Inc. (NYSE:ALG) Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,300 shares of the industrial products company’s stock, valued at approximately $985,000.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares in the last quarter. KBC Group NV grew its stake in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 189 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 69 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Alamo Group in the 4th quarter worth about $200,000. Finally, Choreo LLC bought a new position in Alamo Group in the 4th quarter worth about $201,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALG has been the subject of several recent analyst reports. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. DA Davidson cut their target price on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a report on Monday, March 3rd. Finally, Robert W. Baird downgraded Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th.

Alamo Group Trading Up 1.1 %

Shares of ALG stock opened at $170.37 on Friday. The stock has a market capitalization of $2.06 billion, a P/E ratio of 17.16 and a beta of 1.00. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $178.10 and its 200 day moving average is $183.38. Alamo Group Inc. has a 12-month low of $157.07 and a 12-month high of $205.62.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Research analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.